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The Federal Board of Revenue (FBR) has assured Overseas Investors Chamber of Commerce and Industry (OICCI) to take up the issue of bilateral sales tax refund/adjustment between federation and provinces at forums like Council of Common Interest (CCI) or Finance Ministry's level in broader consultation with provinces.

Members of the National Assembly on Wednesday strongly condemned the aggression of Indian forces on the Line of Control and the Working Boundary and urged the government to give a strong response. The House resumed the discussion on the situation arising out of indiscriminate and unprovoked firing and shelling on the border by Indian forces, resulting in deaths and injuries to several Pakistanis along with loss of property.
The Supreme Court was informed Wednesday that Mari Petroleum Limited - an exploration and production (E&P) company working at Zarghun block - will pay the first production bonus of $0.5 million to Balochistan government. A three-member bench led by Justice Jawwad S Khawaja resumed the hearing of a petition of President Tehsil Bar Association, Tando Adam, who had claimed that oil and gas companies of District Sanghar were causing environmental pollution in the vicinity instead of providing infrastructure, jobs and gas facilities to the local population.
The Lahore High Court here on Wednesday directed the federal government to apprise by October 30 about the legal status of its youth loan programme and the criteria for the appointment of its head. The court was hearing a petition filed by a PTI worker, Zubair Niazi, against the appointment of Maryam Nawaz Sharif as Chairperson of Prime Minister's Youth Loan Programme.
The rupee moved cautiously against the dollar on the currency market on Wednesday, dealers said. The rupee shed three-paisa versus the dollar for buying and selling at Rs 102.93 and Rs 102.95 respectively, they said.
The country received $764 million external resources during the first quarter of the current fiscal year (July-September) against the budgeted $7.4 billion, data released by the Economic Affairs Division showed here on Wednesday. China emerged as the largest donor disbursing $295 million out of $1.462 billion budgeted for the current fiscal year. The second largest disburser of assistance was Asian Development Bank with $160 million with a total of $1.092 billion budgeted from the Bank for the current financial year.
Bahria Town finally won a five-month-long court battle as the Sindh High Court (SHC) on Wednesday allowed it to resume construction work on a flyover and two underpasses near Abdullah Shah Ghazi shrine in Clifton area. In April, Defence Housing Authority (DHA) had moved to the court against Clifton traffic project launched by private property developer for not obtaining mandatory Environmental Impact Assessment (EIA) report on the projects.


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
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